The elites think we are stupid. They are in the main quite correct.
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The government wants the RBA to explain why it's failed to keep the economy growing — but pressuring the CB might just create a housing bubble
The Australian economy is in a rut and the Reserve Bank of Australia (RBA) needs to lift its game. At least that’s the message from the Coalition government, as it intends to make the RBA explain why it’s failed to keep the economy growing above 2% every year. Speaking to the media this week after the worst year-on-year growth since the global financial crisis (GFC), Treasurer Josh Frydenberg confirmed that he wants the central bank to pull its socks up. “I am looking to have such an agreement and Treasury are currently engaged in a discussion with the Reserve Bank about that inflation target which is 2 to 3%. ... (full story)